Elias: California’s Lara gave away the farm to insurance companies ...Middle East

Until a consumer advocacy group used the Public Records Act to unearth previously secret files, just what the insurance industry won when it blackmailed millions of Californians last summer and this fall was uncertain. Now it’s clear the companies won immense new freedoms from longstanding regulations that have saved California insurance customers billions of dollars since 1988, when voters passed Proposition 103 — and despite this, some firms are still not back in the market here. Here’s how the blackmail worked: Companies like State Farm, Allstate and Farmers stopped selling new property policies anywhere in California, claiming intolerable losses from wildfires. They neither specified h

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Elias: California’s Lara gave away the farm to insurance companies ...Middle East

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